The number of lawsuits filed against accounts receivable management firms claiming violations of the Fair Debt Collection Practices Act (FDCPA) fell in the first half of September, mirroring a broad trend of declines in FDCPA suits in 2012 compared to 2011.
From September 1 to September 15, 2012, suits filed by consumers claiming violations of the FDCPA fell more than 12 percent compared to the previous period (the second half of August). While the Labor Day holiday at the beginning of the month may have thrown off filings, the numbers were down more than 5 percent compared to the same period a year ago.
FDCPA lawsuits are down nearly 5 percent for the full year 2012 compared to the same point in 2011. And with less than four months to go in 2012, it appears that this year will mark the first decline in FDCPA lawsuits.
But lawsuits claiming violations of the Fair Credit Reporting Act (FCRA) are up 51 percent over this time in 2011 and Telephone Consumer Protection Act (TCPA) suits have also increased nearly 55 percent. But the overall number of suits filed under those statutes are dwarfed by FDCPA actions.